By Kiku Steinfeld
Chicago, Dec. 7 – GS Finance Corp. priced $1.33 million of 0% ETF-linked notes due Nov. 29, 2024 linked to the lesser performing of the Financial Select Sector SPDR Fund and the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final values of both funds are greater than their initial values, the payout at maturity will be par plus 1.25 times the return of the lesser performing fund, capped at 68%.
If either fund finishes below its initial value but above 70% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the losses of the lesser performing fund.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | ETF-linked notes
|
| Underlying funds: | Financial Select Sector SPDR Fund and SPDR S&P Bank ETF
|
| Amount: | $1.33 million
|
| Maturity: | Nov. 29, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If both funds finish above initial values, par plus 1.25 times return of lesser performing fund, capped at 68%; if lesser performing fund finishes above 70%, par; otherwise, exposure to losses of worse performer
|
| Initial levels: | $40.19 for Select Sector and $57.89 for S&P
|
| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | Nov. 23
|
| Settlement date: | Nov. 29
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 40057K7C1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
